Ondo Finance and Plume Network are teaming up to bring Ondo's tokenized US Treasury products to more investors across the real-world asset finance ecosystem.

the partnership Pin Ondo Finance (Ondo) and the modular blockchain of the first layer of the RWAfi network Plume targets RWAfi. According to the two platforms, the goal is to expand access to products such as US Dollar Yield (USDY) across the Plume network.

By combining Ondo's expertise in treasury-backed currencies with Plume's custom-built RWAfi infrastructure, the two projects can simplify the onboarding and capital integration process. local version Ondo's USDY on Plume is a step in this direction.

Ondo Finance's flagship project USDY is currently the fourth largest producer of US Treasury securities with a value of over $450 million across eight blockchains.

The current total value of short-yield token Hashnote, BlackRock's BUIDL, and Franklin Templeton's US Government Money Fund is $1.8 billion, $621 million, and $554 million per data from rwa.xyz.

Launching USDY on Plume will result in Ondo offering 4.65% APY to platform users. It also promises to expand access to the currency for global retail and institutional investors. However, Ondo does not offer this product to US investors.

The collaboration not only provides an opportunity to expand RWA use cases, but also contributes to the overall growth of DeFi. Katie Wheeler, vice president of partnerships at Ondo Finance, noted in a statement that the partnership will be a boon to the entire industry.

“Bloom creates a network effect for RWA issuance opportunities, and having compoundable, yield-bearing assets to support this economy is a boon for both asset facilities and the ecosystem as a whole,” Wheeler said.

The Plume Network team has recently closed several key partnerships and integrations, including with Google Cloud, Chateau Capital, and private on-chain credit platform Credbull. Plume has raised $20 million in its seed round with backing from Brevan Howard Digital, Haun Ventures, and Galaxy Ventures.